What is Globalization?
Globalization is used to describe how commerce and technology have interdependent the world. It is the process of interaction among different economies and cultures.
It is the process of bringing countries closer based on politics, integrity, economy, communication, etc. Globalization increases awareness of an increase in interaction and interconnection among countries worldwide.
Technological globalization means the spread of technology worldwide, mainly from developed to developing nations. It is defined as the speed of technological advancement across economies worldwide.
Due to the effect of globalization, it can be seen that technology is spreading more rapidly because of the increased interaction among nations and because of economic globalization.
Trade agreements among nations can help technological innovation move faster and production in developing countries can help reduce expenses to manufacture technology.
Impact of technology on Globalization
Technological advancements have greatly facilitated globalization. Technological progress is an essential force in driving globalization. Technological advancements made businesses go global and increase their market size and capacity.
Technological advancements have helped reduce the expenses of communication and transportation across countries by globally sourcing raw materials and various inputs.
Technology patents can help encourage globalization because the company owning the patents can disrupt the market without any competition.
Information technology has helped in the inception of global villages. For instance, the worldwide web reduced the hurdles of place and time in trade agreements. Sellers and buyers can make transactions from any place at any time. Investments are also affected due to technology.
Earlier, highly-quality technology was manufactured only in rich countries with high salaries. Nowadays high-quality technology is being produced in developing countries combined with low salaries. A large number of companies from developed countries are hiring employees from developing countries like India.
Contribution Of Technology
Technology has greatly contributed to globalization by introducing websites. Coders and programmers have used their skills, creativity, and technical knowledge to create websites that are used globally and are growing day by day.
They created online games which are played by people globally. Social media platforms brought people closer to each other. It helped people interact with random strangers, especially through blogs.
Technology is constantly evolving. Programmers and scientists are continually developing methods to make life simpler. The usage of social media platforms has increased rapidly. Online markets have increased due to the development of the transportation industry.
Role of Technology on Globalization
Smartphones have eased life. Smartphone users can access various technological tools from wherever they feel comfortable. Such tools include video calls, searching for information, etc. It provided many opportunities and eased life activities.
Wholesale and retail trade constituted a booming economic sector. Many businesses have been digitalized to provide better services. For instance, the acceptance of e-books. Bookstores offering e-books take it as a better option. E-commerce plays a very important role in globalization.
Conclusion
Technology helps increase globalization. Technology has far-reaching consequences on the world. Like everything else, technology too impacts positively.
Read More : National Technology Day 2022 : How they Start and the Importance of Technology